International officials: Regional cooperation is the gateway to sustainable development for island and least developed countries

Sharjah, 23 October / WAM / On the second day of the Sharjah Investment Forum 2025, international officials reviewed the importance of strengthening regional cooperation and integrating efforts to achieve sustainable and comprehensive development in developing island countries, landlocked countries and the least developed countries, stressing that investing in local resources and adopting balanced environmental and economic policies represent the cornerstone for building flexible economies capable of competing in global markets.

This came during a session entitled “Looking at the Cup as Half Full: The Competitive Advantage of Small Island Developing States, Landlocked States and Least Developed Countries” within the activities of the forum held under the slogan “Leading the Global Transformation: Investing towards a Resilient and Sustainable Future” and with a unified agenda with the World Investment Conference, which Sharjah is hosting for the first time at the Al Jawaher Center for Events and Conferences.

The session was hosted by Saleh Mohammed, Executive Director of the Zanzibar Investment Promotion Authority, Tepantaki Kiriki, Deputy Secretary-General of Kiribati, and Joe Philip, Director of the Beyond Borders Development Group.

Saleh Mohammed stressed that the strategic partnership recently signed by Zanzibar in Qatar, amounting to US$10 billion, represents a pivotal step in the path of development and economic transformation on the island, noting that his country’s goal is to move from relying on tourism, which currently contributes about 30% of the gross domestic product and employs more than 50% of the youth, to a diversified economy based on integrated production and service sectors.

He explained that this partnership includes developing infrastructure, ports, energy and other sectors, which will contribute to transforming Zanzibar into a major commercial center in East Africa as it was in the past, pointing to the importance of attracting Gulf and international investments within a business environment that adopts sustainability standards and ensures the achievement of a real economic and social impact.

For her part, Tipantaki Kiriki stressed that the culture of Kiribati represents the heart of life in it and that investment in the ocean and the food economy is in essence an investment in the culture and identity of the people, explaining that her country’s twenty-year vision focuses on developing the tourism and fisheries sectors as two basic pillars of growth, and she confirmed that the government has conducted a comprehensive review of the Foreign Investment Law of 2018 and its second reading will take place in Parliament. Soon in preparation for updating the legislative framework.

She added that Kiribati has a clear system for reviewing foreign investment applications in cooperation with relevant ministries, with the requirement that all investors adhere to investment, environmental and fisheries laws to ensure sustainable development and protection of natural resources.

For his part, Joe Philip explained that small countries face a challenge in building a unique value that distinguishes them from others in attracting investments, pointing out that the solution lies in strengthening joint regional action and unifying efforts to provide integrated investment offers.

He pointed to the experience of the Caribbean countries, which established several organizations about 20 years ago to unify their efforts in providing unified value to foreign investors, explaining that this experience can be benefited from in regions such as North Africa and the Mediterranean to enhance their competitiveness in international markets.

The participants concluded by emphasizing that joint regional action, adopting sustainable investment policies, and adhering to environmental and social standards constitute essential factors to ensure a resilient and sustainable future for small island states and landlocked states in the face of the challenges of the global economy.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related